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FedEx founder Frederick W. Smith told several hundred attendees of the Airport Cities World Conference & Exhibition held in Memphis this morning that the U.S. is a leader in aviation. But he said aviation “has reached a point where it is a bit taken for granted.”

J.D. Sewell, the president of the Memphis Police Association, was suspended by the municipal union’s board of directors last week for at least six months because he wasn’t being as vocal as the board thought he should have been about the possibility of city employee layoffs.

The budget season began officially Monday morning as Shelby County Mayor Mark Luttrell took a $1.2 billion consolidated county government budget proposal to county commissioners with $22.7 million in red ink.

Shelby Farms Park is gearing up to celebrate Earth Week 2011 in a big way, starting with Sunday’s Down to Earth Festival, expected to draw as many as 20,000 visitors over the course of the day if the weather cooperates.

Every commercial real estate submarket in the Memphis area has seen its share of foreclosures – even those with the strongest demographics and continued expansion and development. The assumption might be that foreclosures are occurring in lower income areas where crime and poverty have played a role in a property’s decline. But, in fact, foreclosures have occurred across all submarkets.

Some of you probably remember when early western movies always involved the old tried-and-true runaway stagecoach scene. I guess in movie directors’ school, learning to create that particular scene was the equivalent of learning the Pythagorean theorem in regular school, except knowing how to film a runaway stagecoach scene came in handy later in life for film directors.

The Airport Cities World Conference & Exhibition opened informally Monday with Memphis Mayor A C Wharton Jr. and French Minister of Urban Development Maurice Leroy signing a trade pact between the cities of Memphis and Paris.

NASHVILLE (AP) – The Tennessee Highway Patrol's leadership says it wants to rename the agency the Tennessee State Patrol because its role has evolved beyond traffic enforcement in the years since it was established in 1929.

NASHVILLE (AP) – Former Vice President Al Gore lauded former Gov. Ned McWherter's commitment to transparency during a memorial service that was attended by Tennessee Gov. Bill Haslam, who's been criticized over disclosure issues.

NEW YORK (AP) – Sears Holdings Corp.'s interim CEO W. Bruce Johnson, who gave up the top role in February, received compensation worth $5.3 million in 2010, more than triple the prior year, according to an analysis by the Associated Press.

WASHINGTON (AP) – The Federal Reserve's second-highest ranking official on Monday said the economy is not strong enough for the Fed to begin tightening credit, countering a vocal minority of members who argue the central bank's stimulus programs are contributing to higher inflation.

WASHINGTON (AP) – President Barack Obama this week will outline a broad plan to reduce the nation's deficit, shifting from immediate budget concerns to the debate over the nation's long-term economic health. Obama is expected to call for cuts to Medicare and Medicaid and tax hikes for the wealthy.